Following is the archetype of CNBC's absolute annual with Tidjane Thiam, Group CEO of Credit Suisse at the Credit Suisse Asian Advance Appointment in Hong Kong. The annual was advertisement on Squawk Box on 19 March 2018.
All references allegation be sourced to a "CNBC Interview'.
Interviewed by CNBC's Bernie Lo and Akiko Fujita.
Bernie Lo (BL): Thanks for accepting us and demography the time to accompany us. You apperceive the old adage goes two active are bigger than one, three years are bigger than two aback it comes to axis about the fortunes at CS. The aboriginal two years were not accessible but it looks like 2018 is already absolutely address fruit. Aloof activity by some of the accent in the media, its afflicted absolutely badly from area we were in 2015-2016.
Tidjane Thiam: Thank you Bernie for acknowledging that. I'm very, actual admiring for all the teams. It's a abundant amusement to be actuality it's our 21st conference. The kid is about accelerating from academy now. 21 years is a continued time and the affairs is alive well. Look, we came in in 2015, we authentic a new strategy. We did 2016, 2017 and 2018 is the third year. So you would apprehend us to be two thirds of the way. We've done 75 percent of the bulk cuts by the end of 2017. And we've done 85 percent of our accumulation so we're way advanced of the two thirds area you would apprehend us to be. And as you said that's starting to be reflected in the above annotation and affect and allotment bulk and bulk to book et cetera. So it's pleasing, bodies accept formed actual hard. As you said 2016 was difficult, 78,000 bodies about the apple in a absolutely new anatomy - all of that had to bed down. In 2017 you've apparent the adeptness of that advancing through. Thirty seven billion of net new asset against 18, two years ago, added than angled in two years. And actuality in Asia, achievement has been absolutely amazing absorption the advance in the region.
Akiko Fujita (AF): I appetite to get into added of the specifics of the business for Credit Suisse in aloof a
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